California Proposition 2 — Increases State’s Rainy Day Fund
Ballot measure · November 3, 2026
- What it does
- Increases California’s Rainy Day Fund, approved by voters in 2014, to provide funding for education, health care, public safety, and other essential services during economic downturns. Doubles the budget reserve cap from 10% to 20% of General Fund revenues, requiring savings until Fund’s balance equals 20% of General Fund. Requires additional savings in years when tax revenues are high. Increases budget reserves available for education, state debts, and pension obligations. Summary of Legislative Analyst's estimate of net state and local government fiscal impact: State budget reserves would be higher.
- A YES vote means
- Rules for building state budget reserves and paying down extra state debts would change. As a result, state budget reserves would be higher. The state also would be required to make extra debt payments for longer.
- A NO vote means
- Rules for building state budget reserves and paying down extra state debts would not change.
- Needed to pass
- A simple majority
- Put on the ballot by
- the Legislature
See every race and measure on your ballot in California, from your address. Your address stays in your browser.Look up my ballot
Also on California ballots
- Proposition 1 — Authorizes Bonds for Housing Affordability Programs
- Proposition 3 — Provides Permanent Funding for Schools and Health Care by Extending Existing Tax on High Incomes
- Proposition 4 — Repeals Prohibition Against Public Funding of Election Campaigns
- Proposition 5 — Changes Recall Election Process for Statewide Officers
- Proposition 37 — Creates Loan Program for Middle-Income Buyers of Qualified New Homes
- Proposition 38 — Authorizes Bonds for Immunology Medical Research
- Proposition 39 — Prohibits Citizens from Voting Unless They Present Government-Issued Identification
- Proposition 40 — Imposes One-Time Tax on Certain Taxpayers
- Proposition 41 — Prohibits New State Taxes That Exclude Revenues from State Spending Limit. Requires Audits for New State Special Taxes
- Proposition 42 — Prohibits New State Personal Property Taxes and Certain Retroactive State Taxes
- Proposition 43 — Limits Voters’ Ability to Raise Revenues for Local Government Services
- Proposition 44 — Requires Community Health Clinics Spend 90% Of Revenue on Program Services
- Proposition 45 — Modifies Environmental Review for Certain Projects